WatchPoint is releasing its latest malware intrusion technology, CryptoStopper.io, on May 16th, 2016. After seeing Ransomware cripple businesses across the country, WatchPoint's innovation team set out to create a solution that could detect and stop Ransomware. CryptoStopper.io watches shared directories on the network, and when the behavior of Ransomware variants appear, CryptoStopper.io isolates the offending user’s device and prevents the encryption of shared network files. $231M has been Extracted
In 2015, the U.S. saw a drastic increase in Ransomware infections. A reported 1.96 million users were infected, and that number is expected to double in 2016. The FBI reports that in the first quarter of 2016, $231M has been extracted from U.S. companies by cybercriminals using Ransomware.
The most common way for the encryption malware variants to attack a network is through phishing campaigns. A phishing campaign occurs when a malicious e-mail including a link is sent to a user from what appears to be a trusted source. When the malicious link is clicked on, the virus begins to quietly encrypt and lock all data files on your network. You only notice there is a problem when it is too late, and you attempt to open one of the encrypted files. Rather than the file opening you get the ransom notice.
You are forced to pay a ransom to retrieve the files, or recover the files from backup. Either way, substantial downtime will occur as repairs are being performed. Studies have shown that the best phishing campaigns are highly effective even after users have attended training on how to spot malicious campaigns. Now not only does the company have the ransom to pay, but with system downtime, the time and money spent rebuilding the network, and most importantly the damage done to the firm’s reputation, the unexpected expenses can be tremendous.
With CryptoStopper.io, WatchPoint has created an inexpensive, easy to deploy solution to protect yourself from cybercriminals leveraging your own data against you.
About WatchPoint
WatchPoint was founded in 2015 and is headquartered in downtown Cedar Rapids, IA. WatchPoint’s endpoint security system is built to detect threats before they cripple an organization, using the best real-time data capture technology, threat intelligence and analytics, and cybersecurity expertise. Throughout each step in WatchPoint’s threat detection and alerting system, U.S.-based cybersecurity support experts are ready to act on threats 24/7/365.
